Analyst Has An Eye On Thomson Reuters' 4.0, But Not Happy With Outlook Reiteration
Portfolio Pulse from Lekha Gupta
RBC Capital Markets analyst Drew McReynolds downgraded Thomson Reuters Corp (NYSE:TRI) to Sector Perform from Outperform, despite increasing the price target to $139 from $135. This follows Q2 results where the company slightly missed revenue consensus but beat EPS consensus. The company reiterated its FY23 organic revenue growth forecast. McReynolds sees a slower net sales environment due to macroeconomic uncertainty but believes the company is well positioned for GAI integration and monetization. Barclays and Morgan Stanley also raised their price targets for TRI.
August 04, 2023 | 2:11 pm
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Thomson Reuters Corp (NYSE:TRI) was downgraded by RBC Capital Markets, despite an increased price target. The company's Q2 results slightly missed revenue consensus but beat EPS consensus. The company reiterated its FY23 organic revenue growth forecast.
The downgrade by RBC Capital Markets, despite an increased price target, indicates a mixed outlook for the company. While the company's Q2 results were mixed, with a slight miss on revenue but a beat on EPS, the reiteration of its FY23 organic revenue growth forecast suggests stability. However, the analyst's view of a slower net sales environment due to macroeconomic uncertainty could negatively impact the stock in the short term.
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